That the ADP would miss today's expectations of 150K is no surprise: after all as we have been explaining for a while, the only way the Fed will have a green light to proceed with NEW QE if it so chooses at the June 19-20 meeting, is if the economic data suddenly turn horrendous. Which means tomorrow's NFP data is make or break: in fact, as far as markets are concerned, the worse the better - should a -1,000,000 NFP print come in, stocks will soar. Which is why the ADP print, which indeed was a miss, of 133K raised eyebrows that it wasn't bigger. Still, 3rd consecutive miss of expectations in a row, and 4th out of the last 5, it gives the BLS enough rope with which to hang itself, and potentially the president, who may have no choice but to sacrifice job creation "momentum" heading into the presidential race, in order to keep stocks higher.

Note the -2,000 change in manufcaturing jobs. We for one, can't wait for that "doubling of exports in 5 years" Obama promised 2 years ago.

Employment in the U.S. nonfarm private business sector increased by 133,000 from April to May on a seasonally adjusted basis. The estimated gain from March to April was revised down modestly, from the initial estimate of 119,000 to a revised estimate of 113,000.

Employment on large payrolls—those with 500 or more workers—increased 9,000 and employment on medium payrolls—those with 50 to 499 workers—rose 57,000 in May. Employment on small payrolls—those with up to 49 workers—rose 67,000 that same period. Of the 57,000 jobs created by medium-sized payrolls, 2,000 jobs were created by the goods-producing sector and 55,000 jobs were created by the service-providing sector.

Construction employment fell by 1,000 in May, its second consecutive decline following six monthly advances that likely were driven in part by unusually warm weather during the winter months.

The Great Recession has brought with it a reevaluation of the American Dream, and even whether a college degree is worth the money. Now, the idea of living at home with your parents isn’t associated with failure or a lack of achievement. More likely, young adults living with their parents are thought of as victims of unfortunate circumstances, with plenty of good company.

They may also be considered to be pretty smart customers: At the very least, they weren’t foolish enough to buy a home that they couldn’t afford—and that promptly declined in value by 50%. That’s what so many adults, young and old alike, did five or so years back. To homeowners who are deeply underwater or facing foreclosure, living debt-free in your parents’ home must sound like a nice possibility.

BEIJING - Millions of homeless people wander around streets in the United States, according to a Chinese report on the US human rights record released on Friday.

The Human Rights Record of the United States in 2011, released by the State Council Information Office of the People's Republic of China, said that about 2.3 million to 3.5 million Americans did not have a place that they called home to sleep in the night, and the number of homeless families grew by 20 percent between 2007 and 2010.

Over the past five years, the percentage of singles arriving at shelters after living with family or elsewhere in the community has jumped from 39 percent to 66 percent, the report said.

The report also cited related survey results as saying that there were an all-time record of more than 41,000 homeless people in New York City, including 17,000 homeless children.

On any given night in Santa Clara County, California State, 7,045 people were homeless according to a 2011 Santa Clara County Homeless Census and Survey, and advocates estimated that Chicago had up to 3,000 homeless youths in need of shelter on any given night, said the report.

The problems concerning human rights were the reflection of the US ideology and political system that ignored people's economic, social and culture rights, and the financial crisis was far from being the sole reason, the report said.

For the 'funemployed,' unemployment is welcome
These jobless folks, usually singles in their 20s and 30s, find that life without work agrees with them. Instead of punching the clock, they're hitting the beach.

Michael Van Gorkom was laid off by Yahoo in late April. He didn't panic. He didn't rush off to a therapist. Instead, the 33-year-old Santa Monica resident discovered that being jobless "kind of settled nicely."

Of course not. We've been talking about QE3/New QE since April of last year. Don't ruin the fun. It's all QE all the time here, brother. It's like trying to talk about Da Bears with a die hard fan without them bringing up "Dikka".

At the beginning of the year you guys were keeping track of the ratio of all of the "missed expectations.". I remember at one point it was something like 18 out of 20 missed, and obviously the trend continues.

That could a pretty poignant tool if you placed a counter somewhere on the site, or even just started keeping track again. Im sure you all have your hands full, so don't take this the wrong way.

Saying goodbye to the middle class concept of retirement – many workers plan to work up until they are 80 well beyond the typical life expectancy of Americans. How long will $25,000 last in retirement?

"When Germans or French are asked the same questions about whether it's within all of our power to get ahead, or whether our success is really determined by forces outside our control, most German and French respondents say, 'No, success is really beyond our control,' " Dimock says.

Don't worry, there will be a rumor today that Ben Bernake is remodelling the bathrooms of his summer home, which will save the economy, increase construction employment, and markets will soar. When later in the day (an hour before close) the rumor will be found to be untrue as Ben can't use a bathroom (his head is plugging that particular hole), stocks will ignore this and hold their gains.

The large corporates have outsourced the high paying manufacturing and services jobs in their countries to the developing countries leaving their own local customers short of cash to buy the products they sell.

Now that would really hurt. It's a bit disappointing to see that such jobs goes down when people with positions in the government should be helping employees who work in such field. HP photosmart d110 ink